Atlanta Braves (NASDAQ:BATRK) Releases Earnings Results, Beats Estimates By $0.38 EPS

Atlanta Braves (NASDAQ:BATRK) posted its quarterly earnings results on Wednesday. The financial services provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.38, Zacks reports. The business had revenue of $61.30 million for the quarter, compared to analyst estimates of $54.93 million.

Atlanta Braves Stock Up 0.1%

BATRK stock traded up $0.04 during trading hours on Friday, hitting $44.02. The company’s stock had a trading volume of 44,256 shares, compared to its average volume of 364,044. The company has a market capitalization of $2.27 billion, a PE ratio of -112.87 and a beta of 0.61. Atlanta Braves has a 12 month low of $35.46 and a 12 month high of $47.18. The stock has a 50 day moving average price of $40.48 and a two-hundred day moving average price of $40.74.

Insider Buying and Selling at Atlanta Braves

In other Atlanta Braves news, major shareholder John C. Malone acquired 35,000 shares of Atlanta Braves stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $44.23 per share, with a total value of $1,548,050.00. Following the purchase, the insider owned 521,862 shares in the company, valued at approximately $23,081,956.26. This trade represents a 7.19% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.43% of the company’s stock.

Hedge Funds Weigh In On Atlanta Braves

Several hedge funds have recently bought and sold shares of the business. Jane Street Group LLC boosted its stake in shares of Atlanta Braves by 35.4% during the 2nd quarter. Jane Street Group LLC now owns 123,802 shares of the financial services provider’s stock worth $5,790,000 after acquiring an additional 32,384 shares in the last quarter. Invesco Ltd. raised its stake in shares of Atlanta Braves by 406.3% in the 3rd quarter. Invesco Ltd. now owns 261,754 shares of the financial services provider’s stock valued at $10,886,000 after acquiring an additional 210,051 shares in the last quarter. Bank of America Corp DE lifted its holdings in Atlanta Braves by 26.8% in the 2nd quarter. Bank of America Corp DE now owns 98,573 shares of the financial services provider’s stock worth $4,610,000 after purchasing an additional 20,854 shares during the last quarter. Brevan Howard Capital Management LP boosted its position in Atlanta Braves by 29.5% during the second quarter. Brevan Howard Capital Management LP now owns 7,106 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 1,618 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Atlanta Braves by 4.9% during the second quarter. BNP Paribas Financial Markets now owns 7,885 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 366 shares during the period. 64.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research downgraded Atlanta Braves from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $69.00 price objective on shares of Atlanta Braves in a research report on Thursday. Wall Street Zen upgraded shares of Atlanta Braves from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Atlanta Braves in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.00.

About Atlanta Braves

The Atlanta Braves Real Estate Ownership Trust (NASDAQ:BATRK) is a publicly traded real estate investment trust established in 2021 by Liberty Braves Group. The trust’s primary purpose is to own and manage a portfolio of sports and entertainment properties related to the Atlanta Braves baseball franchise. BATRK generates stable rental income by leasing its assets to the Braves Baseball Club, LLC, under long-term lease agreements designed to align property performance with franchise needs.

The trust’s portfolio is anchored by Truist Park, the 41,084-seat baseball stadium that has served as the Braves’ home since 2017.